Terms used in international trade business such as House bill of lading,House to house,Import ,Immediate Delivery Entry,ICC Arbitration


Terms used in international trade business such as House bill of lading,House to house,Import ,Immediate Delivery Entry,ICC Arbitration etc.



This post explains about terms used in international trade business such as House air waybill,House bill of lading,House to house,Import ,Immediate Delivery Entry,ICC Arbitration,Import,importation,Import license etc.These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.


Terms used in international trade business


HMC:Her Majesty's Customs


HMRC:Her Majesty's Revenue and Customs


HMSO:Her Majesty's Stationery Office


horizontal foreign direct investment:Foreign direct investment in the same industry abroad as a firm operates in at home.


Terms used in international trade  business such as House bill of lading,House to house,ImportHouse air waybill (house AWB, HAWB) - Transport document issued by an air freight consolidator. May be acceptable transport documents under documentary credits, provided precise conditions of forwarder liability are followed, or if the credit expressly authorizes the document.


House bill of lading (house B/L) - Bill of lading issued by a freight forwarder. Often covers a consignment of parcels from various shippers that has been grouped or consolidated by the forwarder.


House to house - Terms generally refers to a container yard to container yard (CY/CY) shipment (in which case, it may be used merely to quote the rental rate for the container itself), but is also used in some cases, synonymously with “door to door” a term which more generally refers to overall transport services from seller’s premises to buyer’s premises.


HS:Harmonised System


HTS - Harmonized Tariff Schedule of the U.S. Annotated. The U.S. application of the Harmonized System for the classification of imported merchandise. The U.S. adheres to the international classification system to the six digit level and then adds four addition digits for rate of duty assignment and statistical purposes


HVR:Hague-Visby Rules


HWM:High Water Mark


IA - See Independent Action.


IATA - See International Air Transport Association.


IATA Non-Restricted Declaration - Form provided to freight forwarders and air carriers that declare goods described on the form non-dangerous for transport via air. Often used by shippers when a product has an ominous sounding description that could lead someone to believe it is dangerous but it is actually not.


IATA:International Air Transport Association


IB:In Bond / Invoice Book


IBAN:International Bank Account Number. A standard way of uniquely identifying an account, which improved the speed and efficiency of cross border payments


IBAP: Intervention Board for Agricultural Produce


IBCC - International Bureau of Chambers of Commerce.


IBCC-Net - International data bank for the posting of commercial offers, including the purchase and sale of consumer goods and commodities; operates through networks of chambers of commerce.


IBRD:International Bank for Reconstruction and Development


IC&C:Invoice Cost and Charges


ICAB:International Cargo Advisory Bureau


ICAO:International Civil Aviation Organisation


ICB:International Container Bureau


ICC - See International Chamber of Commerce.


ICC Arbitration - Loose term to refer either to ICC Rules for Conciliation and Arbitration or the process of submitting an arbitral complaint to the ICC Court of International Arbitration.


ICPO - See Irrevocable Corporate Purchase Order.


ICTF - Immediate Container Transfer Facility.


IFM - Inward Foreign Manifest


IMDG - See International Maritime Dangerous Goods Code.


Immediate Delivery Entry (I.D. Entry) - Procedure used to expedite the clearance of cargo. It allows up to ten days for the payment of estimated duty and processing of the consumption entry. In addition, it permits delivery of the cargo prior to payment of the estimated duty and then allows subsequent filing of the consumption entry and duty.


IMO - See International Maritime Organization.


Import - To bring foreign goods into a country. In international sales, the importer is usually the buyer or an intermediary who accepts and transmits goods to the buyer. Compare Export.


Import letters of credit:Method of payment that obligates buyers to pay only when the seller makes a compliant presentation of documents required in the letter of credit to the buyer’s bank in lieu of a cash payment in advance. Import letters of credit help buyers (importers) purchase goods or materials from suppliers abroad who want payment guaranteed by a reputable bank. This extension of credit on behalf of the buyer helps the buyer expand its network of foreign suppliers and reduces its trading partners’ risk of not getting paid. This is particularly important when working with new suppliers.


Import licence: some countries may require import licences for certain or all goods. As an exporter it's normally your customer's responsibility to comply with import procedures, but it's a good idea to check they're doing so.


Import license - A document required and issued by some national governments authorizing the importation of goods into their individual countries.


Import paperwork: goods in free circulation within the EU generally require minimal documentation. But if your imports exceed £221,000 you must provide Intrastat (see Intrastat) declarations to Customs for statistical purposes. And some goods need special documentation. Goods imported from outside the EU require a range of import documentation and may also need an import licence. For more information, see our guide on handling logistics and paperwork.


Import Procedures and Documentation - This reference guide discusses the parties to an import transaction, requesting a quotation, negotiating trade terms, selecting a method of payment and more.


IMPORT QUOTA:A restricted amount of certain types of goods entering a country, usually maintained through licensing importers, assigning to each a quota, after determining the amount of goods or commodities allowed for that period. The license may also state the country from which the importer is allowed to buy, thus restricting free trade, but many times adopted by governments because of internal pressures from certain industries worried about competition.


Import Regulations, Procedures and Guidelines - This book focuses on the five core competencies required to make accurate customs entries and ensure compliance with U.S. Customs regulations: Value, Country of Origin, Classification, Duty and Record Keeping.


import:economics to buy a product from another country and bring it to your country


importation:the process of bringing goods into a country in order to sell them


Importer - U.S. CBP defines "importer" as a person primarily liable for the payment of duties on the merchandise, or an authorized agent acting on the importer's behalf. The importer may be: (a) a consignee, (b) the importer of record, or (c) the actual owner of the merchandise if the actual owner has filed with Customs a declaration acknowledging ownership along with a superseding bond. See 19 CFR 141.20.


The above details describes about terms called in international trade business such as House air waybill,House bill of lading,House to house,Import ,Immediate Delivery Entry,ICC Arbitration,Import,importation,Import license etc.These phrases may help importers and exporters on their day to day export import business activities. The readers can also add more information about terms used in international business trade below this post.Terms used in international trade business such as Heavy Lift,Hedging Tools,House air waybill ,House bill of lading ,Import,IBCC-Net

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